Harold Davidson & Associates Inc. Cuts Stock Holdings in Alphabet Inc. $GOOGL

Harold Davidson & Associates Inc. lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,261 shares of the information services provider’s stock after selling 873 shares during the quarter. Alphabet accounts for about 1.5% of Harold Davidson & Associates Inc.’s portfolio, making the stock its 18th largest position. Harold Davidson & Associates Inc.’s holdings in Alphabet were worth $2,824,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the last quarter. Invesco Ltd. lifted its position in Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after purchasing an additional 593,345 shares during the last quarter. Deutsche Bank AG lifted its position in Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after purchasing an additional 727,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after purchasing an additional 104,859 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.5%

NASDAQ GOOGL opened at $240.37 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $2.91 trillion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. The company’s 50-day simple moving average is $200.66 and its two-hundred day simple moving average is $177.03. Alphabet Inc. has a one year low of $140.53 and a one year high of $242.25.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GOOGL shares. Truist Financial restated a “buy” rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, July 2nd. Oppenheimer restated an “outperform” rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a report on Tuesday, September 2nd. UBS Group raised their target price on shares of Alphabet from $192.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Morgan Stanley raised their target price on shares of Alphabet from $185.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Finally, Citigroup restated an “outperform” rating on shares of Alphabet in a report on Wednesday, September 3rd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $221.44.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director owned 240,400 shares of the company’s stock, valued at approximately $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock valued at $49,208,380 over the last 90 days. Company insiders own 11.64% of the company’s stock.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.